DRYS completed a massive share offering yesterday, which is likely what led to its 85% meltdown. There’s been no news this morning to spur the big snap-back rally, which is really par for the course at this point. Today’s Nasdaq halt follows a similar move earlier this week, when the stock was halted for an entire day.

Today’s halt didn’t last nearly as long, as DRYS resumed trading after just several minutes of inactivity.

To say the action in shipping stocks lately has been volatile would be the understatement of the year. As usual, investors are well advised to avoid these names and simply watch the carnage from a safe distance.

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